Brunswick Corporation, the Illinois-based parent company of Mercury, Triton and MotorGuide, announced yesterday that it will cease production of its Bluewater Marine brands including Sea Pro, Sea Boss, Palmetto and Laguna.
The shutdown will coincide with the beginning of the 2009 model year, which begins July 1. As a result of this action, Brunswick will also close its production facility in Newberry, S.C., by the end of June. Approximately 175 positions will be affected by this decision.
“The U.S. marine industry has been in a prolonged slowdown since late 2005, driven by an uncertain economy, high fuel prices, the housing slump and other economic factors that have affected consumers’ confidence and eroded their discretionary spending,” said Dustan E. McCoy, Brunswick chairman and chief executive officer.
“As a result, we are assessing the recovery potential for all marine segments in which we participate, their fragmented nature, the costs of our continued presence in certain of them, and the position of our brands," he added. "Our work is ongoing and is focused on developing profitable brand positioning in all segments. With this action, we believe we will solidify our presence in the highly fragmented saltwater segment by concentrating our efforts and leveraging our resources on such brands as Boston Whaler, Triton, Trophy, and our sportfishing offerings from Hatteras, Cabo and Albemarle, while sharpening our market focus and providing necessary cost reductions.”
